Expecting Q3 to beat consensus
We reiterate our HOLD recommendation and target price of USD17.8 ahead of the Q3 results, due prior to US market opening on 2 November. LNG freight markets picked up somewhat during Q3, and our estimates are above consensus on net profit for the quarter. However, with 71% contract coverage, GasLog is not first in line to benefit from the improving markets.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
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